Account: Accounts Payable No. 200 Balance Accounts Payable Subsidiary Ledger Vendor A Vendor C Date Invoice Debit Credit Debit Credit Balance Balance 8/1/2022 Beginning Balance 2,075.55 Date Invoice Debit Credit 8/3/2022 8/4/2022 8/8/2022 8/9/2022 4325 4322 200.00 4320 1,132.22 350.44 2,425.99 8/1/2022 Beginning Balance Debit Credit 1,532.22 2,225.99 8/4/2022 4322 200.00 1,332.22 1,093.77 8/8/2022 4320 1,132.22 Date Invoice Debit 8/1/2022 Beginning Balance 8/4/2022 200.00 8/12/2022 Credit Debit Credit 43.21 4319 43.21 4327 435.76 435.76 4326 380.99 1,474.76 8/18/2022 4330 280.09 480.09 8/19/2022 4331 87.92 523.68 8/12/2022 4324 200.00 1,274.76 8/24/2022 4332 250.00 8/12/2022 4327 435.76 1,710.52 8/15/2022 4328 400.00 2,110.52 8/17/2022 4318 300.12 1,810.40 8/26/2022 4316 200.00 8/31/2022 Ending Bala 1,532.22 530.09 Vendor B 730.09 8/24/2022 4334 530.09 8/31/2022 Ending Bala 530.09 109.52 633.20 43.21 Vendor D 633.20 633.20 Balance 8/17/2022 4329 1,844.28 3,654.68 Balance Date 8/18/2022 4330 280.09 3,934.77 Date 8/19/2022 4331 87.92 4,022.69 Invoice Debit 8/1/2022 Beginning Balance Credit 8/22/2022 4325 350.44 3,672.25 8/3/2022 4325 350.44 8/23/2022 4333 150.00 3,822.25 8/12/2022 4324 200.00 8/24/2022 4332 250.00 4,072.25 8/17/2022 4329 1,804.28 8/24/2022 4334 109.52 4,181.77 8/22/2022 8/26/2022 4316 200.00 3,981.77 8/30/2022 4325 4336 350.44 8/29/2022 4335 2,000.00 5,981.77 8/31/2022 Ending Bala 550.44 350.41 2,505.13 2,154.69 2,154.69 Debit Credit 200.00 550.44 350.44 2,154.72 1,804.28 8/29/2022 8/30/2022 Invoice Debit 8/1/2022 Beginning Balance Credit Debit Credit 300.12 8/9/2022 8/15/2022 8/17/2022 8/23/2022 4326 4328 380.99 4,000.00 681.11 4,681.11 4318 4333 4335 300.12 4,380.99 150.00 2,000.00 4,530.99 6,530.99 4328 4,000.00 2,530.99 8/31/2022 Ending Bala 4,300.12 6,530.99 2,530.99 8/30/2022 4336 350.41 6,332.18 8/30/2022 4328 4,000.00 2,332.18 8/31/2022 Ending Balance 6,382.78 6,639.41 2,332.18

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 2.4C

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Receiving Procedures

Goods are delivered directly to the requesting office. The requestor receives the goods and packing slip. After the goods or services have been received the packing slip should be signed indicating receipt of goods and scanned and emailed to accounts payable.

Approval Paths:

Transactions Involving Purchase Orders

Accounts payable receives the appropriate documentation from the pertinent department indicating goods and services have been received. A three-way match of the purchase order, invoice, and receiving document is performed and approved by accounts payable. Once approved by accounts payable, a payment voucher is created in the Oracle NetSuite system for payment.

Employee Reimbursement Requests

The company will reimburse employees for business expenses incurred as part of their job responsibilities or incurred while on company required travel. Employees request and submit all supporting documents for these expenses utilizing the web-based expense reimbursement system. These transactions are approved electronically by the employee’s department head. Once all approvals have been made the document electronically passes to accounts payable. Accounts payable reviews the supporting documentation and approves the report for reimbursement.

Check Processing and Distribution

Checks

Checks are processed on Tuesdays and Thursdays and distributed on Tuesdays and Fridays by accounts payable. It is the general policy of A/P to mail checks to vendors within thirty days of invoice date. Expedited processing can be approved by the controller or by the accounts payable team lead.